Wisdom intends to offload IT infrastructure anomalies for the startups
Noida-based Wisdom Tree Ventures (WTV), a flagship IT company of Wisdom Group, is to provide technological, financial and marketing assistance to 100 startup ventures and budding entrepreneurs within the next five years.
“Entrepreneurs that are facing difficulties in achieving their goals or are stuck in the system due to the ongoing pandemic situation will be given a fresh breather. We had not initially planned for such a drive but these are not normal circumstances and we empathise with the budding entrepreneurs,” Deb Mukherjee Group CEO of Wisdom Group said on 1 Jan 2021.
WTV plans to address the financial vacuum created by the ongoing Covid-19 situation, create jobs, and contribute to the economic growth of India by aligning with the goals of Atmanirbhar Bharat, particularly for MSMEs and start-ups.
Wisdom Group will not only cater to the technical requirements of the start-ups but also foster financial flexibility for these companies.
Wisdom Group intends to offload IT infrastructure anomalies for the start-ups and help them to be self-sufficient in good time.
WTV, a company having expertise in digital marketing and software the development had originally developed cutting-edge technology for its own business requirements such as the development of Stockbroking platforms and mobile trading applications (‘Wisdom Pro’- now an established mobile trading application).
In the Customer Relationship Management (CRM) space, the technology (Artificial Intelligence (AI) equipped ‘Wisdom CRM’) was developed by WTV to service its own set of clients at the enterprise level in CRM and cloud telephony space.
Similarly, in the online gaming segment, the technology was originally developed to roll out Wishgames11 (another Wisdom Group company), an online gaming platform. The technology development stage helped WTV to gain insights into various other aspects of the application of the technology.
WTV plans to optimise and scale some of the technology modules to help the start-ups. Mukherjee added,
Mukherjee, “We adapted and if our secret sauce can be used for the greater good of the country then why not?”
When start-ups are stuck up with their plans largely because they do not have IT infrastructure and the related expertise, Wisdom Group plans to partner with the start-ups in an unusual fashion.
Wisdom Group will partner with these companies, hand-hold them during their initial year and, in turn, create value for those companies. In return, Wisdom Group is not looking for monetary gains.
Instead, the start-ups can return the favour by diluting their equity stake in the name of Wisdom Group. In the long run, Wisdom Group plans to stay in the loop by obtaining a stake in a few of the promising start-ups and allocating a project manager to each start-up in which it has acquired a stake.
Startups that are unwilling to dilute their equity, the option of customisable repayment plans will be on the offer. Seed funding raised with the help of Wisdom Group may be repaid back by way of profit sharing on future cash flows. As a result, Wisdom Group can remain invested and optimise the financial covenants of the start-ups.
With the execution of this business model, Wisdom Group plans to create nearly one lakh jobs in the next 5 years. This is a colossal task by any imagination but Wisdom Groups seems to have taken the initial step; It has recently taken over a start-up called ImagineSales which has been operating in the CRM industry and has been struggling to make ends meet because of the pandemic situation in the country.
The CRM industry is a massive market in the near future yet it suffers on account of two main reasons, the sporadic nature of services and products and foreign dominance.
Mukherjee observes, “there is value to be created and opportunity to be tapped in this model”. By pioneering a trend reversal, Deb Mukherjee hopes to cut into the foreign dominance in this market.
Wisdom CRM, part of a ‘Make In India’ endeavor, will provide those services from India to overseas markets in the near future.
Mukherjee argued: “As Aryabhata gave the concept of Zero to the world at a time when trade was struggling with number system-related accounting problems, this endeavor will help Indian companies to walk against the tide and chart out a unique path for themselves that will prove to a game-changer for Indian companies in the overseas markets”.
While an online youtube channel is already in place, Wisdom Group is in the final stage of talks with stakeholders about establishing a media house under its banner.
Wisdom Group is a diversified business entity with a presence in the financial services, Information Technology (IT), and interests in the insurance, film production and online gaming sectors. #technology #startups #fintech #MSMEs #investment /fiinews.com
